All guarantees discussed herein are based on the claims-paying ability of the issuing insurance company. Annuities and insurance products are provided by various insurance companies. Products not available in all states. An annuity is a contract between you and an insurance company. The purchase of an insurance or annuity product is not a condition of any bank loan, service or product.

A fixed annuity is a long-term, tax-deferred contract designed for retirement. It allows you to create a fixed stream of income through a process called annuitization and also provides a rate of return based on the performance of the insurance company’s underlying investments. You should also know that annuities and insurance policies contain guarantees and protections that are subject to the issuing insurance company's ability to pay for them.

An annuity does have limitations.  If you decide to take your money out early, you may face fees called surrender charges.  Plus, if you’re not yet age 59 ½, you may also have to pay an additional 10% tax penalty on top of ordinary income taxes.  If you do take an early withdrawal, your death benefit and the cash value of the annuity contract will be reduced.



The content available on this site is provided for information purposes only, is not intended as an offer or solicitation for the purchase or sale of any financial instruments and should not be relied upon as an investment recommendation.  First County Bank and its affiliates make no representations or warranties as to the accuracy, completeness or timeliness of the information. The information is not intended to provide legal, tax or accounting advice. Investors should consult a qualified advisor for advice specific to your circumstances. First County Bank and its affiliates do not offer legal, tax or accounting advice. Clients are urged to consult with their own legal, tax and accounting advisors with respect to their specific situations.